Facebook Libra Representative Meet Official From 26 Banks Including Federal Reserve
Facebook Libra cryptocurrency project representatives are meeting with officials from 26 Banks including U.S Federal Reserve and Bank of England.
According to the Financial Times post published on 15 September the member of European Central Bank’s (ECB) Executive Board, Benoît Coeuré will host the meeting at Basel, Switzerland.
An official reveals that Libra founders are invited to answer some key questions about the stablecoin’s design and scope “with the findings feeding into a report for G7 finance ministers in October.”
The Libra Association quoted in Finacial Times post:
“We welcome this engagement and have deliberately designed a long launch runway to have these conversations, educate stakeholders and incorporate their feedback in our design,”
Facebook Libra representatives will meet with the Bank of International Settlements’ (BIS) committee for payments and market infrastructure. Bank of International Settlements’ (BIS) representatives are officials of 28 central banks.
European lawmakers are concerned that Facebook Libra will get famous in Europe where users have difficulties in sending cross border payments. Burno Le Maire, Economy and Finance Minister of France said that all the developments of Facebook Libra in Europe will be halted because it threatens “monetary sovereignty” of government.
